Bitcoin steady at $22k ahead of US interest rate decision
The price of bitcoin has slipped below $22k again this morning. The largest cryptocurrency by market capitalisation is changing hands for $21,922 at time of writing, down 3 per cent since this time yesterday and 2 per cent since this time last week.
Bitcoin hit a one-month high last Wednesday of more than $24,000, and has looked relatively steady since in a zone between $22-24k. Investor sentiment has also picked up, staying out of Extreme Fear on the Fear and Greed Index for more than a week now.
Ethereum, the second largest crypto by market cap is also down slightly this morning, trading at $1,536.
This week will see the Federal Reserve make a decision on whether to hike interest rates again, with the Federal Open Markets Committee (FOMC) on July 26-27 set to see policymakers decide on the extent of the next interest rate move – tipped by analysts to be either 75 or 100 basis points.
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Friday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Definitions and insights can be found at https://bytetree.com/research
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently
What Bitcoin did yesterday
We closed yesterday, July 24 2022, at a price of $22,609.16 The daily high yesterday was $$22,974 and the daily low was $22,306.84.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $421.14 billion.To put it into context, the market cap of gold is $11.26 trillion and Tesla is $846.745 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $28,845,025,601. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
The price volatility of Bitcoin over the last 30 days is 49.84%.
Fear and Greed Index
Market sentiment today is 30, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 42.41. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 50.38. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price – an RSI reading of 30 or below indicates an oversold or undervalued condition.
Convince your Nan: Soundbite of the day
“Bitcoin is the world’s first globally-accessible public money. It will be as significant for freedom, prosperity, and human flourishing as the birth of the internet. ”
– Peter Van Valkenburgh, Director of Research at Coin Center.
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